The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1887-04-21
virginia's Wealth.
IRON the Wing OF satnrdau

Yesterday, while paying an official visit to
the Capitol, the subject of Senator fIeaton's re-
marks over the appointment Of Sir Edward
Thornton as the accredited represen tative of
the British bondholders, published In yester.
days "Whig, = came up for discussion, and Mr..
J.P. Goss, of the Auditors office remarked:
"Have you ever impaired the official figures Of
the wealth of Virginia before the war with
those showing her present conditions neg-
alive answer being returned. he said, well,
here they are, OF the same time producing
copy of the report OF the State Auditor for The
fiscal year 1878
yIRGINTA's TAXABLE PROPERTY IN '31-'5S
The report showed the following
Total value of lands as assessed
for taxation. .......,..,...--.S 5iD,iz5, ~. y
Lots $3.50. 9s5o7'Vp' ~
8374.99,ss8 81
Total value Of 5ll ,l54 slaves, esti-
mated at $6l2 63 per capita....... 3l3,li5,2f9 w
To,al value of personal property
other than slaves and such as is
named hereafter. l26.d53,9Ji w
Total value of personal property
taxed rs dividends, Hc............ 26,S15ti5f %
Total value of property in business
for which license is reQured.... 127.4tl, 720 CD
Estimated value of property, ex-
empt from taxation, S3l .001330
value ofinveStmenfs in internal
Improvement companies other
wise taxed, Sl7 ,009,G COO. ............ 16t09,0oO
But as property was assessed at
least 20 per cent below its actual
value, that amount on real and
personal property is to be added
to the above value of lands ahd
personal property sI95 800 1881,
20per cent of which is....,......, 99,7l0,l59 lG
Total 81, l43676,oS7 So
The total receipts to The State at that time
were 81 sos. S60.26. and the rate of taxation was
40 cents on the 500 the same as now.
vrRGINIAs PRESENT WEALTH
According to the last report of tile Auditor Of
the State for the fiscal year ending on the 30th
of September last it is shown: Value Of all
| property in the State. real and personal. SSi8,-
906 %; receipts for the year, $3li5 SS3 3d. OF
which there is expended on public schools
1t will thus be seen that at the present time
the people of Virginia are required 10 raise q
than was required in lS57-5s, although since
that time Virginia has been dismembered Of
one-tbird Of her territory in the foreible sepa-
ration of West Virginia, and has lost in slave
Us o..
These figures speak volumes and that they
are authentic can be verified at any time III ~
will prove of considerable help to the approach
| ing debt commission during its deliberations
LII this statement is correct, then the
s'receipts for the year, - are about $400, 600
more than has been heretofore stated or
estimated, as the sum to meet all demands
upon the Commonwealth VIRGINIAN. |
The Richmond T5imes keeps standing in
it's columns the following statement of the
debt of the State, as well as the resources,
differing, however, from the figures taken
from the Wing, relating to the receipts of
the Treasury, as we have noted above
The following are inccntestable, record facts.
| that the records prove, as any one may see for
All the money the state owes was borrowed
prior to the waI. fthe money borrowed S3i,
| 600, 600 spent in creating railroads and 9TH
er works of internal improvement within the
| present limits of the State Of Virginia (SenaSe
| doc. No 81 session of lS77-'TS, pages
/ The present debt of the State is as follows
| Consol bonds issued under the
| funding act of 1871. and bearing
81 per cent. interest, with tax re-
| ceivable coupons to represent the
-1ntefeSt.... SII,z5i NV gu
| Ten. forty bonds issued under the
McCulioch act of 1879, and bear
| ing per cent. interest, with tax
| receivable coupons to represent
Peeler bonds issued under the act
| of 1871 which will have to be fund
| ed, under the Riddeperger act,
| 1887 ,6S44D, which, when funded
| Will be bearing annually . per
cent, 6l9, iOi W
| Old bonds that have never been
funded underany act (S2,3SS, 5l5,-
| 5S), which have to be funded I'M
! der the Rfddeberger act, bear
ing annually per cent interest. CISCO 20
| Riddleberger bonds outstanding
| in the hands of the public and
/ bearing per cent interest..,.... 2,S72,3l9 80
| Overdue Interest, excluding tax
| receivable coupons about 81 ,000-
| 900, which, when funded under
about. 100000 co
about ..se .... e..'g. 4m1ooo 90
| Surprising, then, the cOASo and
| ten-forty bonds and the overdue
| tax-receivable coupons are re-
| funded into new three per cent,
| bonds at face value, and all the
| rest of the rdebt is funded into
/ Riddleberger bonds bearing
principal Of the debt Will be- be- al,e75. COS %
viii be $500. ..,.. 9ss 25l 90
An examination of the report of the Second
| Auditor for the past fiscal year ending SepteG
bel 30, 1886, will show these figures to be cor
! rect:
/ REV. NUE AND EXPENSES OF TIE STATE Gov
ERN9IENT.
/ Revenue for the fiscal year ending
| September 30, 1885. See Auditors
report, page Observation-Disclosures. 2,773, 1877 81
EXPENSES.
Expenses OF Government, other
than for public schools. l,0ol,lS 90
Appropriations for public free
SCHOOLS, t1J,U0U Vu
| Balance after sustaining the GOV
| ernment and providing for the
puDHc SchOofS....... oo9,zt0 W
These figures can be verified by any one VIII,
of the Auditor,